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PTAD pledges to continue N32,000 pension increment, arrears payment

 

The Executive Secretary, Pension Transitional Arrangement Directorate (PTAD) , Tolulope Odunaiya has reiterated the Directorate’s commitment to implementing the recently approved N32,000 pension increment for pensioners under the Defined Benefit Scheme (DBS) once budgetary provisions are released for the year, 2025.

 

Tolulope said the January 2025 pension payments did not include the N32,000 increment because the budgetary provisions have not been released. She however assured that PTAD was working assiduously with relevant agencies of government to ensure the increment is fully implemented and arrears paid as soon as possible.

 

She explained that PTAD had paid 4 months arrears (August–November 2024) to Civil Service Pension Department (CSPD) pensioners and 5 months arrears (August–December 2024) to pensioners of Customs Immigration and Prison Pension Department (CIPPD), Police Pension Department (PPD), and the university sector of Parastatals Pension Department (PaPD) through strategic funds management.

 

She further stated that the Directorate, through this strategic funds management initiative, had earlier defrayed in full the 20% and 28% pension increment arrears to all pensioners, and promised that PTAD will continue to prioritize pensioners’ needs at all time.

 

It would be recalled that retirees across the country have lamented the difficulties they face in meeting basic needs, including feeding, medical expenses, and rent, expressing frustration that, despite multiple minimum wage increases, their pensions have remained stagnant.

 

They therefore, urged the Federal Government to implement the N32,000 pension increment as mandated by the National Minimum Wage (Amendment) Act, 2024, citing severe economic

hardship.

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